Sonoco: Q2 Earnings Snapshot

HARTSVILLE, S.C. (AP) _ Sonoco Products Co. (SON) on Thursday reported a second-quarter loss of $334.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Hartsville, South Carolina-based company said it had a loss of $3.34. Earnings, adjusted for one-time gains and costs, were 84 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The packaging maker posted revenue of $1.38 billion in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.32 billion.

For the current quarter ending in October, Sonoco expects its per-share earnings to range from 87 cents to 93 cents.

The company expects full-year earnings in the range of $3.50 to $3.60 per share.

Sonoco shares have increased 11% since the beginning of the year. The stock has risen 23% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on SON at